NISOURCE INC. · Electric & Other Services Combined

NI

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The short version

A profitable company with steady sales.

Going well

Profitable
Sales up 24% last year
Little debt

Money moves

No insider buying or selling in the last 30 days
Institutions added 1.8% to their holdings in the quarter ending June 2026 (490 bought, 313 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$43.46+0.5% that day

Company value: $20.8B; Share price times all shares
Price vs profit (P/E): 23.1x; You pay about $23 for each $1 of yearly profit
Price vs sales: 1.8x; Company value is 1.8 times a year of sales
Dividend yield: 2.6%; Yearly dividend as a share of today's price
Cash vs value: 0%; Cash as a share of company value
Debt vs value: 0%; Debt as a share of company value

From NI's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.3B+3.4% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $11.4B, up 17% from the 12 months before. Over 5 years, sales grew about 7.8% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of NI. Starting points are the company's recent numbers.

Sales growth+17% a yearRecently: +17% a yearProfit margin8%Last 12 months: 8.0%P/E at the end23xToday: 23.1x. Many steady companies trade at 12x to 25xShare count change+2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$24.9B

Profit in 5 years$2.0B

Price these guesses point to$86.67+99% vs $43.46 todayAbout +15% a year, before dividends

What today's price needs: with a 8% margin and a 23x P/E, sales would have to grow about 1.9% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.10.3%
PassDebt under half of equityNot relying on borrowed money.0.00x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.14.3%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$420.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+7.2% in 3 years

Revenue: $6.5B; +23.5% vs prior year
5-year growth: +7.8%/yr; revenue, per year
Total debt: $19.7M; 0.00x equity
Current ratio: 0.69x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.